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EXHIBIT 11
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NATIONAL RECORD MART, INC.
CALCULATION OF NET LOSS PER COMMON SHARE
FOR THE THIRTEEN AND TWENTY-SIX WEEKS ENDED SEPTEMBER 26, 1998
AND SEPTEMBER 27, 1997
NET LOSS PER COMMON SHARE
The computation of weighted average common shares and equivalents outstanding
for the periods presented is as follows:
Thirteen Weeks Ended Twenty-six Weeks Ended
---------------------------- ----------------------------
September 26, September 27, September 26, September 27,
1998 1997 1998 1997
----------- ----------- ----------- -----------
Weighted average common
shares outstanding 4,838,918 4,844,624 4,841,771 4,844,624
Common Stock Equivalents
which are dilutive * * * *
Treasury stock assumed to
be repurchased using
proceeds from options and
warrants -- -- -- --
----------- ----------- ----------- -----------
Weighted average common
shares and equivalents
outstanding 4,838,918 4,844,624 4,841,771 4,844,624
----------- ----------- ----------- -----------
Net loss ($1,079,587) ($ 791,262) ($2,297,642) ($1,699,077)
=========== =========== =========== ===========
Net loss per share ($ 0.22) ($ 0.16) ($ 0.47) ($ 0.35)
=========== =========== =========== ===========
* Shares not included in calculation, as the effects of such shares would be
anti-dilutive.